In the last 12 months, research has shown that house prices have sky rocketed three times faster than those of units. In a recent article written by the Domain's, James Robinson, it appears Melbourne's inner south and inner eastern suburbs have the most significant gap in pricing between houses and units. Thanks to Melbourne holding the unenviable title of most locked down city in the …
Melbourne Weekend Auction Results | 27th February 2021
The week ending 27th February again saw homebuyers out in force, with the REIV recording an 84% clearance. This time last year the clearance rate was 78%. This result is based on 882 auctions reported across Melbourne. 558 homes were sold at auction and 185 were sold before auction, with 139 passed in. 15 properties were withdrawn from sale. The level of buyer activity across …
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First home buyers need to know the risks when buying a property
A Melbourne schoolteacher is facing a first homebuyer's worst fears after discovering that the apartment she purchased in 2018 contains severe defects. Lauren Bird decided to invest in an apartment in order to get into the property market. Unfortunately, she wasn't aware of the importance of a strata report when purchasing an apartment. Ms Bird did what she thought was …
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First Home Buyers Slowly Getting Back in the Property Market
Amidst the housing downturn in Australia, first home buyers have been noted to be getting back in the property market. Latest data from the ABS Housing Finance report showed that first home buyers have availed of new housing loans in more than six years. Specifically, 18.3 percent of owner-occupier loans were taken out in November 2018, an increase of 0.2 percent from the October figure. This …
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